Occidental Asset Management LLC Buys New Holdings in The Boeing Company (NYSE:BA)

Occidental Asset Management LLC bought a new stake in The Boeing Company (NYSE:BA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,211 shares of the aircraft producer’s stock, valued at approximately $220,000.

Other hedge funds have also bought and sold shares of the company. SouthState Corp increased its position in shares of Boeing by 2.7% during the fourth quarter. SouthState Corp now owns 1,891 shares of the aircraft producer’s stock worth $493,000 after acquiring an additional 50 shares in the last quarter. JFS Wealth Advisors LLC increased its position in shares of Boeing by 2.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 2,536 shares of the aircraft producer’s stock worth $661,000 after acquiring an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Boeing by 1.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,198 shares of the aircraft producer’s stock worth $1,094,000 after acquiring an additional 50 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Boeing by 1.7% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 3,077 shares of the aircraft producer’s stock worth $802,000 after acquiring an additional 52 shares in the last quarter. Finally, Davis R M Inc. grew its position in Boeing by 1.8% in the 4th quarter. Davis R M Inc. now owns 2,943 shares of the aircraft producer’s stock worth $767,000 after purchasing an additional 52 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Down 2.2 %

Shares of BA stock opened at $164.20 on Tuesday. The stock has a market capitalization of $100.80 billion, a P/E ratio of -46.25 and a beta of 1.56. The firm’s 50 day moving average is $180.67 and its 200 day moving average is $185.24. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.82) EPS. On average, equities analysts predict that The Boeing Company will post -2.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BA shares. Wells Fargo & Company reduced their price objective on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Susquehanna upped their price objective on shares of Boeing from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Barclays reduced their price objective on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Argus downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, UBS Group reduced their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus target price of $215.18.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.